Belgium: Refined Copper Market 2025

Refined Copper Market Size in Belgium

The Belgian refined copper market surged to $X in 2022, picking up by 294% against the previous year. Overall, consumption, however, saw a noticeable decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Refined Copper Production in Belgium

In value terms, refined copper production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable decline. The pace of growth appeared the most rapid in 2021 with an increase of 25%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Refined Copper Exports

Exports from Belgium

After five years of growth, shipments abroad of refined copper (unwrought, not alloyed) decreased by -21.4% to X tons in 2022. In general, exports recorded a perceptible slump. The most prominent rate of growth was recorded in 2018 when exports increased by 2,381% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined copper exports shrank dramatically to $X in 2022. Over the period under review, exports continue to indicate a noticeable reduction. The pace of growth was the most pronounced in 2018 with an increase of 2,491%. Over the period under review, the exports attained the maximum at $X in 2021, and then fell rapidly in the following year.

Exports by Country

Germany (X tons) was the main destination for refined copper exports from Belgium, with a 59% share of total exports. Moreover, refined copper exports to Germany exceeded the volume sent to the second major destination, France (X tons), fourfold. The UK (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany totaled +13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+4.0% per year) and the UK (+19.3% per year).

In value terms, Germany ($X) remains the key foreign market for refined copper (unwrought, not alloyed) exports from Belgium, comprising 59% of total exports. The second position in the ranking was taken by France ($X), with a 14% share of total exports. It was followed by the UK, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to +14.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+4.9% per year) and the UK (+20.2% per year).

Export Prices by Country

The average refined copper export price stood at $X per ton in 2022, falling by -3.9% against the previous year. Overall, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined copper export price increased by +47.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 47% against the previous year. As a result, the export price attained the peak level of $X per ton, and then declined modestly in the following year.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to China ($X per ton) and Germany ($X per ton), while the average price for exports to the Netherlands ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+1.3%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Copper Imports

Imports into Belgium

In 2022, supplies from abroad of refined copper (unwrought, not alloyed) decreased by -8% to X tons, falling for the second year in a row after three years of growth. Overall, imports recorded a perceptible setback. The pace of growth was the most pronounced in 2019 when imports increased by 41%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, refined copper imports contracted markedly to $X in 2022. Over the period under review, imports recorded a pronounced decrease. The growth pace was the most rapid in 2021 when imports increased by 37% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons) constituted the largest refined copper supplier to Belgium, accounting for a 82% share of total imports. Moreover, refined copper imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sevenfold. The third position in this ranking was taken by France (X tons), with a 2% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+42.0% per year) and France (+11.3% per year).

In value terms, Germany ($X) constituted the largest supplier of refined copper (unwrought, not alloyed) to Belgium, comprising 83% of total imports. The second position in the ranking was taken by the Netherlands ($X), with an 11% share of total imports. It was followed by France, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to -1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+42.8% per year) and France (+13.1% per year).

Import Prices by Country

The average refined copper import price stood at $X per ton in 2022, falling by -12.4% against the previous year. Over the period under review, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined copper import price increased by +49.0% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 68% against the previous year. As a result, import price attained the peak level of $X per ton, and then fell in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Austria ($X per ton) and France ($X per ton), while the price for the Netherlands ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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